Kornitzer Capital Management Inc. KS Has $6.77 Million Holdings in Universal Display Corporation $OLED

Kornitzer Capital Management Inc. KS lessened its position in Universal Display Corporation (NASDAQ:OLED) by 30.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 73,837 shares of the semiconductor company’s stock after selling 31,650 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Universal Display were worth $6,768,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OLED. Norges Bank purchased a new position in Universal Display during the 4th quarter worth approximately $92,756,000. JPMorgan Chase & Co. lifted its holdings in shares of Universal Display by 86.4% in the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock valued at $102,846,000 after purchasing an additional 408,315 shares in the last quarter. Analog Century Management LP purchased a new stake in shares of Universal Display in the fourth quarter valued at $46,914,000. UBS Group AG boosted its position in shares of Universal Display by 100.8% in the fourth quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock worth $75,532,000 after buying an additional 324,677 shares during the period. Finally, XXEC Inc. boosted its position in shares of Universal Display by 489.3% in the first quarter. XXEC Inc. now owns 386,937 shares of the semiconductor company’s stock worth $35,467,000 after buying an additional 321,276 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Price Performance

OLED traded up $0.89 during midday trading on Friday, hitting $81.04. 843,164 shares of the company’s stock traded hands, compared to its average volume of 726,191. The company has a market cap of $3.79 billion, a PE ratio of 18.09 and a beta of 1.54. The stock’s fifty day simple moving average is $88.88 and its 200-day simple moving average is $101.39. Universal Display Corporation has a one year low of $77.15 and a one year high of $156.46.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.37). The business had revenue of $142.21 million for the quarter, compared to analyst estimates of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The company’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.35 earnings per share. On average, research analysts expect that Universal Display Corporation will post 4.23 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Universal Display’s payout ratio is currently 44.64%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Roth Capital set a $168.00 price target on Universal Display in a research report on Friday, May 1st. Citigroup lowered their target price on Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Thursday, June 18th. Zacks Research lowered shares of Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Finally, Oppenheimer decreased their price target on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $130.60.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.